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Finances planning , which type medical benefits coverage stage 4 cancer
1207 Posts

What in general do advanced cancer patients find they encounter and having to do in receiving and planning in finances ?
If they do not have group medical benefits or extended insurance care . Ie go to banking , investments advisor , in care funds needed . Do you’re speak with an Accountant , Bank Advisor and Lawyer ? Or Counsellor Social Worker ?
And with responsibilities to house , others or pets . This is a genuine question .
I already know about Wills and an appointed POA takes care of a lot but some have to do this ahead themselves .

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422 Posts

Excellent question.

It's something I think about often and although I'm not yet advanced we've put a few things in place. All of our bills are on auto withdrawal at the bank, we pay our income taxes by auto withdrawal as well. I rely on our financial advisor to manage our registered and unregistered accounts…he is telling us to sign up for his private banking services so that all bills would be sent to him and his bank would have them paid, he would do our income taxes as well. We're still OK and I've decided with my wife that I need to go first…she has all the passwords and PINs, I don't have clue how to do the money stuff she does.

Things are different with a friend who has very advanced prostate cancer which has spread to his bones and lymph nodes…he is now terminal and his wife is in a vegetative state in a LTC facility. He is still trying to do everything himself, has pre-paid their funerals, and is kinda in denial. He is still in his house and looking after all the financials. His PSA has gone from 5.9 to 107 in 18 months, has been radiated twice and was on hormone treatment for a year but it was not working and was stopped. His problem is that he has no family, kids, no one to look after him and his stuff in the final days. When he had THE MEETING with his oncologist last spring the doctor was wearing a mask so he's not sure if he said that he had a few years or two years left.

So a long way of saying that it depends on a person's situation, how complicated their affairs are but I would say that a conversation with their financial advisor and lawyer…maybe the bank manager would be a good place to start.

1207 Posts

@Jackwb : @Lianne_Moderator @Lacey_Moderator Thank you for breaking the barrier and address some details . I did not know an advisor does all that . My son inlaw would be the advisor but not yet sign on bc I wondered if this was a little bit too close for comfort having a relation do this or a conflict of interest ? Would he take it personally if I took back some funds he is holding to give to the bank ?


For additional info please reach out to our Cancer Info Helpline at 1-888-939-3333. I also find Canadian Virtual Hospice a good resource: Topics – Patient Benefits – Canadian Virtual Hospice.

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